Canadian investors form JVs to invest in Southeast Asian logistics
The Canada Pension Plan Investment Board has entered into two agreements to invest alongside Ivanhoé Cambridge with real estate logistics specialist LOGOS in the LOGOS Singapore Logistics Venture and LOGOS Indonesia Logistics Venture, which will focus on developing and acquiring modern logistics facilities in Singapore and Indonesia, respectively.
“The logistics sector in Southeast Asia continues to grow as a result of the burgeoning middle class and the rise of e-commerce, and presents an excellent opportunity for a long-term investor like CPPIB,” said Jimmy Phua, managing director, head of real estate investments – Asia, with CPPIB, in a statement. “We are looking forward to making our first direct real estate investments in Singapore and Indonesia through well-established, like-minded partners like LOGOS and Ivanhoé Cambridge.”
CPPIB and Ivanhoé Cambridge will be equal partners in both joint ventures, with LOGOS, as the operating partner, holding the re